Heavy, light steel discards garner $570,496 in military scrap auction
Oct 18, 2007 | 09:41 AM
| Paul Schaffer
Heavy and light scrap steel held in Texas fetched $570,496, or $175.71 a long ton, in a busy U.S. Defense Department auction that grossed $1.06 million for 93 offerings.
The Texas scrap from the Red River Army Depot in Hooks, Texas, was divided into eight equal lots for electronic bidding. All of it went to a single buyer, which offered an identical price for each chunk of the accumulation. Buyers are identified briefly by serial number but are otherwise anonymous.....
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